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CW
Dec 30, 2012 10:00pm PST
hill sunday without a deal. the so-called fiscal cliff. >> there is still significant distance between the 2 sides but negotiations continue. >> if republicans and democrats can't strike a deal, tax rates will go up for all americans and automatic tax cuts will kick in and millions will lose unemployment benefits. i want this done. >> they withdrew the proposal but cut the deficit by slowing social security. there is some movement as both sides try compromise about which americans start paying tax rates. >> republicans don't want to see new revenues, in other words democrat tax increase being used for new spending. >> in unusual move republicans called for a no. 2 democrat, biden to help with negotiations as the white house places a lot of blame on the impasse. >> they say the bill biggest priority is we deal with the debit. their way is the only priority that tax breaks for wealth americans are protected. >> if a deal isn't reached, the president wants to introduce legislation to keep tax cuts for people earning more than 200 thousand a year. >> it wasn't only grid lock in washington.
KOFY
Dec 30, 2012 9:00pm PST
and republicans are wrangling over last minute ledges to avert the fiscal cliff there is no sign of a deal so far. chuck stephenson has the latest. >> they heard this prayer from the senate chaplain. >> look on our nation and save us from self-inflicted wounds. >> the clock is ticking towards the new year's eve midnight hour when budget cuts swoop down from the fiscal cliff. harry reid and mitch mcconnell are working on a stopgap bill. >> at some point the negotiating process it appears there are things that have stopped us in moving forward. i hope we're not there but we're getting real close. >> i want everyone to know i am willing to get this know, but i need a dance partner. >> the legislation would prevent a tax increase for 98% of american workers, extend unemployment benefits and prevent a huge cut in payments to medicaid doctors. >> we should introduce legislation to make sure that middle-class taxes stay where they are. >> even if they reach a deal it won't pass congress by monday night. if it doesn't everybody's income taxes will go up. the average family would pay $3,324 would. if cong
FOX Business
Dec 31, 2012 11:00am EST
a fiscal cliff deal until late january, but the possible market turmoil to follow could create a stock buying opportunity. joining me now, global financial services president and portfolio manager. of course you'll see the glass half full on this one. yet been saying this since november, to be fair. >> taking the position that we don't think the politicians are really going to get anything done until the backs of firmly against the wall which will be after the first pay cycle of the new year. that's why we are expecting third week of january, but this is also an opportunity. we have to recognize that. if you look at the market today, just imagine. if you pull 20 investment professionals yesterday we probably would have said markets are going to be down today. better than expected economic news. cheryl: is trying to, but they're is a lot -- one of the best performing sectors of 2012 was financials. it would have predicted that at the beginning of 2012? is in that kind of hard for people to focus on what sectors for people to look at when you have this crowd of cliff uncertainty? >> ther
CNN
Dec 30, 2012 4:00pm PST
barack obama said he was optimistic that a deal on the fiscal cliff could be reached. that might have been a mistake. ahead, more on the fiscal cliff and the dwindling hope that a deal can be reached. it's all part of our special coverage of the fiscal cliff crisis with me and ali velshi. ...but he'd wait for her forever, for any reason, and would always be there with the biggest welcome home. for a love this strong, dawn only feeds him iams. compared to other leading brands, it has 50% more animal protein. ...to help keep rocky's body as strong as a love that never fades... if he ever lets her leave again. iams. keep love strong. constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but phillips' caplets don't. they have magnesium. for effective relief of occasional constipation. thanks. [ phillips' lady ] live the regular life. phillips'. [ phillips' lady ] live the regular life. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the sce
FOX News
Dec 31, 2012 1:00pm PST
this is playing out. that is your take on how close we may or may not be to a deal to avoid the fiscal cliff? >>guest: we have a framework on taxes. they are working out a deal on the massive spending hikes. taking an amount to it as the president said, not a scalpel and it could be too deep. we are a way of from dealing with that. but i make the point that it is still not clear whether a deal like this could make it through the senate. it seems likely the republican leader is on it but the bigger question is, will it get through the house of representatives republicans? conservatives will be frustrated there is no spending cut? also, republicans today are saying they were inflamed with their opposition hardened that the president came out and pointed his finger at republicans and made it like a campaign-style i vent and senator john mccain ripped it to the president saying that is not how he should do it in the final hours. >> it is the time for presidential leadership. it is time to stop the cheerleading the time to stop the campaign. the president won. we know that. he won fair and square
FOX
Dec 31, 2012 2:00am PST
on the last-ditch effort to put together a deal to avoid the fiscal cliff and it is time now for our sunday group, bill kristol of the weekly standard, former democratic senator evan byah and byron york from the washington examiner and kirsten powers of the daily beast web site. you heard mitch mcconnell say he's hopeful and optimistic. will congress pass something in the next 48 hours, something? to avoid the fiscal cliff? >> i don't know. but, i guess, probably. and it will be a bad deal but i suppose better than doing nothing. and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to?
FOX News
Dec 30, 2012 5:00pm PST
a deal on the fiscal cliff? we are going to debate that plus, france says no to high taxes on the rich. could the united states learn something from that? we'll analyze that when we come back. ♪ need not wonder why ♪ ♪ no time not for you ♪ ♪ no time... really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! can ♪ ♪ you're a heartbreaker, dream maker ♪ >> welcome back to a sunday prime time edition of "the five." and as the clock ticks down and going over the so-called fiscal cliff. no deal he yet, but there is some finger pointing going on. >> i'm concerned about the lack of urgency here. i think we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that option is necessary. >> i will say this, i think that the republican leader has shown absolutely good faith, but it's just that we're
NBC
Dec 31, 2012 6:00pm EST
deadline. just hours to go in the fiscal cliff is in sight. >> i can report that we have reached a deal on all the tax issues. >> the agreement looks like this. taxes will go up on folks earning more than $250,000 a year. tax credits for college tuition, clean energy and for those with children would be extended as well. >> it is not done. >> there are still some things to be resolved before it can bring legislation to the floor. >> in an afternoon briefing, president obama said he will not accept the deal that slashes spending without raising taxes, too. >> if they think that is going to be the formula for how we solve this thing, that is not how it is going to work. >> republicans reacted this way. >> i know the president has done heckling congress. i think he lost probably numbers of boats. >> he laughs and jokes and ridiculed republicans. >> both sides still have to sell any deal to their rank and file, and some democrats were not pleased. the senate may or may not vote on this tonight, but the house is adjourning and would vote on this tomorrow at the earliest. so technically, at l
CBS
Dec 31, 2012 4:00am PST
. >>> also today is the final day of fiscal cliff negotiations. hope of reaching a wide-ranging deal in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying her taxes. danielle nottingham reporting now from washington. >> lawmakers are still working on it. >> i want everyo one to know i' willing to get this done but i need dance partner. >> the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious w
CBS
Dec 30, 2012 5:30pm PST
, it is looking bleak. the lawmakers have yet to reach a deal on the fiscal cliff. the month is almost over and we are one day over from americans getting tax hikes. randall pinkston is live with the lack of opt -- optimism. >> reporter: yes, but the senate and house are in town. unusual between new year's and christmas for that to happen. one senator is calling it not a great attitude in congress right now. >> senator? >> reporter: 7 tors arrived to continue last-minute negotiations hours before the nation is set to fall off of the so-called fiscal cliff. after a day of intense talks, senate majority leader, harry reid said there will not be a deal tonight. >> there is a distance between the two sides, tpheg orbingiations continue. >> if republicans and democrats can not strike a deal, taxes will go up for almost every american, automatic cuts will kick in and millions will loose unemployment benefits. >> i want everyone to know i am will willing to get this done but i need a dance partner. >> they quickly cut the deficit by slowing the growth of social security but the senate says there is a
MSNBC
Dec 31, 2012 7:00am PST
is it going to take to get congress to compromise and get a deal done on the fiscal cliff? from washington to all around the country americans are fed up. >> this whole thing is a national embarrassment, an embarrassment to the president, an embarrassment to both sides of the aisle and both the house and the senate. >> the election is over. you got your seats. you're re-elected. congratulations. you have a job. now work and do it. >> fiscally irresponsible decision trying to please everyone and you please no one at all. >> they've got to work together. >> they appear to be very self-centered. >> joining me now retired admiral and former democratic congressman joe sestak of pennsylvania and msnbc contributor and former bush/cheney senior adviser robert trainum. kelly o'donnell has just reported some of the latest information. we heard there was progress overnight and we understand vice president biden and republican leader mitch mcconnell exchanged phone calls until about midnight and their aides then continued to work and we've been reporting the various areas of progress including the fac
FOX News
Dec 31, 2012 12:00pm PST
congress is close to striking an 11 the hour deal to keep our nation from plunging off the fiscal cliff but he says the two sides still have ground to cover and the time is running out. that one-two punch that will kick in, hours from now, on january 1, and if the president and congressional lawmakers cannot hash it out, the united states could fall into another recession. here is part of the framework for the agreement. the bush tax cuts would expire for incomes above $400,000 for individuals and $450,000 for families. unemployment benefits would continue for one year and the estate tax would go up. we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the
ABC
Dec 31, 2012 5:00pm EST
they want a deal. the senate and house to avoid the fiscal cliff, but the senate is pushing forward hoping they will have the deal by midnight tonight. we will technically go over the cliff on new year's day. the house hopes to fix everything on wednesday. they hope the markets will stay calm if the senate? today. mellon says they're happy with this final deal -- no one says they are happy with this final deal. reporting live from the capital rebecca cooper. >> jobs at the pentagon may be in jeopardy when we go over the fiscal cliff. they are not the only military related work at stake. northern virginia bureau chief jeff goldberg is live at the pentagon tonight. >> last week, defense secretary leon panetta said day-to-day operations would likely not change dramatically if we go over the fiscal cliff. any potential layoffs would probably not happen immediately. workers are watching this very closely. watching children skate round and round is how many americans would describe what they're watching right now on capitol hill. >> it is absolutely unconscionable. >> in the pentagon, it is alar
MSNBC
Dec 31, 2012 2:30am PST
with a blood clot. details ahead. >>> looking over the fiscal cliff, is a last second deal even possible? >> kim kardashian and kanye west expecting a baby. new year's eve preps and the new york giants open their hearts to the families of newtown, connecticut. >>> very good morning. nice to see you this morning. we begin with secretary of state hillary clinton in the hospital. clinton was admitted to new york presbyterian hospital after the discovery of a blood clot stemming from a consuggestion so suffered earlier this month. she's being treated with blood thinners and doctors will northern the medication over the next two days. the 65-year-old clinton fell and suffered a concussion when she fainted while home alone in mid-december as she recovered from a stomach virus that left her severely dehydrated. she planned to return network this week. it's crunch time on capitol hill. senate and house negotiators have a few crucial hours to come up with a compromise to avert the looming financial mess. if they don't here's what will happen. everyone's tax rates will go up. $1.2 trillion in fede
NBC
Dec 31, 2012 4:00am EST
the fiscal cliff. is a last-second deal even possible? >>> kim kardashian and kanye west expecting a baby. >>> new year's eve preps and the new york giants open their hearts to the families of newtown, connecticut. "early today" starts right now. >>> and a very good morning to you on this new year's eve. it's nice to see you this morning. i'm veronica de la cruz. we begin with secretary of state hillary clinton in the hospital. clinton was admitted to new york presbyterian hospital after the discovery of a blood clot stemming from the concussion she sustained earlier this month. the clot was discovered during a followup exam sunday. she's being treated with blood thinners, and doctors will monitor the medication over the next two days. the 65-year-old clinton fell and suffered a concussion when she fainted while home alone in mid-december as she recovered from a stomach virus that left her severely dehydrated. clinton had been planning to return to work this week. >>> it is crunch time on capitol hill. senate and house negotiators have just a few crucial hours left to come up with a compr
NBC
Dec 31, 2012 5:00pm EST
worked out, america goes off the fiscal cliff. surrounding himself with middle- class americans, president obama had sounded off this afternoon. >> it appears that an agreement to prevent this new year's tax hike is within sight, but it is not done. >> sources say taxes would rise on income over $500,000, which the president sees as a big win for him. >> just last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. obviously the agreement that is currently being done would raise those rates and raise them permanently. >> some democrats did not applaud. agreedid the president's to raise rates on those making over $250,000, not four hundred thousand dollars. >> democrats won a two-year postponement, with costs covered by new tax hike. the president scoffed at republican demands for deeper spending cuts. >> shove spending cuts at us. >> so much for the gop. >> a bigger deal is, will a deal get done? >> whatever happens are does not happen before midnight, this partisan more on taxes and spending is sure to continue well into 20
FOX News
Dec 31, 2012 3:00am PST
could hear from mitch mcconnel and harry reid. because no deal to avoid a fiscal cliff there is major uncertainty . investors are embracing for trading. dow plunge would 158 points on friday. it was the longest state of losses since july. there is a sell off over seas today to lock in profits. >> another major health scare for secretary of state hillary clinton. >> she was supposed to be back on the job this week. she is instead waking up in new york city hospital new york presbyterian. a blood clot in a follow-up exam. she was forced to cancel the hearing. lawmakers said a hillary clinton must testify before a vote can happen with senator john kerry. nine people are killed and two doysen are injured when a bus crashed off a highway. the bus was driving through a mountain pass. the bus plummled 200 feet down the slope. >> famous ball drop in sometimes square. beefing up security and thousands of extra chromes scattered in the crowd. trust me they are e top of unifs there will be bomb sniffing dogs commissioner ray kelly will said times square will be the safest place on new york's eve
MSNBC
Dec 30, 2012 5:00pm PST
a deal to avert the fiscal cliff crisis. at this point, the approaching deadline can be measured in hours, and expectations are being scaled down accordingly. >> i suggested to them, if they can't do a comprehensive package of smart deficit reduction, let's, at minimum, make sure people's taxes don't go up. >> the president appearing on "meet the press" this morning, pushing a narrow last-minute deal that would extend the bush tax cuts for the middle class but leave a hoet of other issues unresolved. if congress does reach a small deal on taxes before the fiscal cliff deadlines up, their next fight over the dead ceiling will be queued up and ready to go. whether or not we go over the fiscal cliff tomorrow night, a political stand-off over the debt ceiling is imminent. joining us sort through all of this current and future fiscal crises is ezra klein. at "the washington post" as well as columnist for bloomberg view. thanks for joining us. you addressed the issue of what happens next, i saw you on rachel's show friday. your theory are it's key to how the fiscal cliff plays out. explain. >>
FOX
Dec 31, 2012 5:00am PST
midnight tonight to make a deal to avoid that fiscal cliff. if they miss the deadline income taxes are set to go up for everybody in america opinion >>> it is 5:45. it's been one year since a five- year-old boy was shot and killed near his family's taco truck in oakland. yesterday friends and family honored the life of gabriel martinez junior in front of the taco truck where he was hit by a stray bullet. police say the gunman ordered food from the truck and then started shooting. gabriel's family is calling on police to solve this in the new year. >> we are just angry. >> i don't hear anything. yet. i don't know if they do something about it. it's already past a year. >> police have release the video of the car that he used to get away. and a sketch. but police have not made any arrests in the case. >>> livermore looking for more clues after a body was found with several gunshot wounds. a jogger found the body near galaxy court just about 7:30 yesterday morning. the victim identified as kenneth o.k. don of livermore was pronounced dead at the scene. about 30 people showed up at a vigil for
CBS
Dec 31, 2012 6:30pm EST
are close to locking in a hard fought deal to avoid the fiscal cliff. but there are still some major sticking points, especially over spending and house leaders say they won't vote tonight. still the headline tonight is that the two sides seem to have agreed on how best to address the bus era tax cuts. randall pinkston now with the very latest. >> the senate is close to a deal, as the clock ticks toward midnight and the nation teeters on the edge of the so-called fiscal cliff. >> passed the tax relief portion. now let's take what's been agreed to and get moving. >> reporter: the tentative deal
FOX
Dec 31, 2012 6:00am PST
on a deal to keep the u.s. from going over that fiscal cliff. ktvu kyla campbell reports from our washington, d.c. newsroom some new numbers are on the table in those closed door negotiations. >> reporter: they are offering to raise taxes on households making $450,000 or more a year. but republicans were still holing out at the $550,000 mark. senate republican leader mitch mcconnell started negotiating with vice president joe biden yesterday. the two worked together in in the senate for more than 20 years. if they can come up with terms that pass the senate house speaker john boehner says they will take up the bill and either pass it or amend it and send it back for approval. >> any time you are putting a deal together, it's always the details that will kill you. you have to get the details done. there is a lot of back room operation going on right now. making sure all the i's get dotted and t's get crossed. >> congress has less than 15 hours to come up with a compromise and sweet on it. live in washington kyla campbell. >>> meantime with all the focus on that fiscal cliff there is a new bil
KRON
Dec 31, 2012 6:00am PST
to the positive right now in hopes of a deal on the fiscal cliff. we'll be back as the kron4 morning news continues in just two minutes. a live look at san jose, it is chilly out there and temperatures are down and the 30's and the inland spots around the bay. traffic is very light in the traffic you are seeing is the 1 01 northbound approaching the 87 interchange. >> the last trading day of 2012. we saw the down dollar down last week with concerns about the fiscal cliff. there are some hopeful signs this morning that a deal was as in the works. dow futures are up 77 points ahead of the opening bell. let's get an update on the eve forecast with erica. >> good morning and it is a cold start. a lot of your actually below the freezing point. it is clear, we have no business issues with visibility. new year's night could be the coldest of the season thus far. and would not be surprised if a freeze warning went into affect but generally dry conditions for the remainder of the week. the exception is thursday, slight potential for some rain for some of our north bay spots. temperatures out the d
NBC
Dec 30, 2012 11:30pm EST
away from the fiscal cliff deadline and still no deal. lawmakers called it a day around 7:30 tonight and will be back tomorrow. they're stuck on the income threshold for higher taxes and the taxevel on large estates. vice president joe biden has taken over as lead negotiator for democrats and expected to keep working with mitch mcconnell. steve handelsman explains why some lawmakers might prefer to go over the cliff. >> reporter: the night before the fiscal cliff. >> the senate stands in recess. >> reporter: the senate gave until tomorrow. >> there still time left to reach an agreement. >> reporter: house lawmakers headed home, dropping a command to cut social security and hope the senate sends them a deal with minimal tax hikes on the rich. >> i'm still optimistic that we can get this averted before the final hour here tomorrow. >> reporter: when the clock strikes 2013, taxes go up on most americans. huge defense cuts kick in, which some republicans claim barack obama favors. >> it's obvious the president wants us to go over the fiscal cliff. >> reporter: on "meet the press," presid
ABC
Dec 30, 2012 5:00pm PST
--minute legislation to avert the so-called fiscal cliff. there's no sign of a deal so far. here's the latest. reporter: as senators convened in a rare sunday session, they heard this prayer from the senate chaplain. >> look with favor on our nation, and save us from self-inflicted wounds. >> the clock is ticking towards the new year's midnight hour when tax hikes and budget cuts swoop ground the fiscal cliff. the two senate leaders, harry reid and mitch mcconnell are working on a stop-gap bill. >> at some point it appears there are things that stop us from moving forward. i hope we're not there, but we're getting real close. >> i want everyone to know i'm willing to get this done but i need a dance partner. >> the legislation would prevent tax increase for roughly 98% of american workers, extend unemployment benefits set to expire for some two million people, and prevent a huge cut in payments to medicare doctors. >> we should go ahead and introduce legs that would make sure middle class taxes stay where they are and should be an up or down vote. >> a deal won't necessarily pass congress by monday nig
CBS
Dec 30, 2012 11:00pm PST
without a deal. hours before the nation is set to fall off the fiscal cliff. >> there are are still significant differences between the two sides, tpheg orbiations continue. >>> if respects and temaccurates can not strike a deal before midnight monday taxes will go up for almost every american. automatic spending cuts will kick in and millions will lose unemployment benefits. >> i want everyone to know i am willing to get had this done. i need a dance partner. >>> republicans introduced a proposal by slowing the growth of social security. senators say there is movement as both sides try to compromise about which americans should start paying a higher tax rate. >> this is a lot of give and take going on right now. but republicans don't want to see new revenues, in other words democrat tax increases being used for new spending. >> in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, biden, to help with the negotiations, this has at white house places a lot of the blame on the g.o.p. >> they say their biggest prierity is making sure we deal with
FOX
Dec 31, 2012 7:00am EST
to reach a deal to avert the fiscal cliff. with time out we're looking at what's held up the deal and what the lack of one will mean for the nation. a little later on, talk to jerry conley. first we turn to representative phil row. we appreciate you coming in on new year's eve. >> thanks. glad to be here. >> i know senate leaders met over the weekend and things were not going well. they've called in vice president bide entobroker some sort of a deal. looking at how things are going, do you think we're going to have a deal? >> you know, an agreement could be reached. let me take the step back. this is not the way to run the country. the american people are frustrated by this process. we have a process to get a bill passed and that's to bring it up to the house. it goes to the various committees , house floor, over to the senate. they don't like it, they send it back to us. goes to conference committee and send it to the president. that is how the country is supposed to be run. any agreement now has to be small because there's not enough time for both parties to look at it and decide what's
FOX
Dec 31, 2012 4:30am PST
to prevent the country from going over the fiscal cliff. the house and senate convened for a rare sunday session but no deal yet. senate minority leader mitch is talking with joe biden to come up with a solution. if nothing is resolved by midnight tonight tax rates for all americans will increase. >> going to work with whoever. whoever can help. there ask no single issue that remains an impossible sticking point. >> if everyone is sincere in i saying they want the middle class to be protected, we can get a deal here. >> if congress doesn't immediate the midnight deadline lawmakers will have a grace period. so far the irs has not told employers to change the amount of income taxes they withhold from employees paychecks. with all the focus on the fiscal cliff. leaders from the house and senate agricultural committees agreed to a one-year extension of the expiring u.s. farm bill. so far there is no house vote scheduled. without passage of the bill milk prices could double. a gallon of milk could go up to $8 a gallon. >>> three people are recovering after a car crashed into a funeral home. p
NBC
Dec 31, 2012 6:00am EST
minute wrangling over the fiscal cliff. just a few hours left. can lawmakers reach a deal? >> then on a much different note, kanye west surprises concert-goers last night announces he is having a baby with kim kardashian. we'll have the details and reaction from kim's family. >>> from party ideas to the hottest trends in music and movies, everything you need to get set for 2013 which comes tonight. >>> all that and more when we get started on new year's eve monday morning here on "today." you guys got off to a good start with that redskins game last night. >> i'm a giants fan. we'll be watching you in the playoffs. >> we'll see how it goes. don't get too confident. thanks a lot. we'll see you later. >> time right now is 6:37. why this year at the stroke of midnight, means major changes for local couples. >>> the redskins are riding high this morning. hear from the rookie that ran into the record books. >>> also for some local drivers, ringing in the new year means reaching a little deeper into your wallet. >>> a big chill to end 2012. weather and traffic on the 1s. >>> an
FOX News
Dec 31, 2012 8:00am PST
the fiscal cliff. a top lawmaker reporting progress in the last-ditch efforts to hammer out a deal in time. a health crisis lands secretary of state hillary clinton in the hospital, what doctors are telling us about her condition. plus, iran test firing a new range of weapons right near the strait of hormuz where a chunk of oil passes each day. the impact on the middle east and on our world, it's all "happening now." >> reporter: there is a note of optimism in the race to avoid the fiscal cliff. hello, everybody, i'm uma pemmaraju in for jenna lee today. jon: good to have you here. optimism is always a good thing in washington. that is in short supply. ringing in 2013 at midnight tonight could mean ringing in more than half a trillion dollars in tax hikes and a hundred billion dollars worth of spending cuts from defense and other key domestic programs, that is if no deal is reached in time to avert it. both the house and senate with rare new year's eve sessions today as they try to hammer out some sort of an agreement. >> we do have to work together, because without bi-partisanship nothing
CBS
Dec 31, 2012 6:00am EST
the house and the senate both went home without a deal, when it comes to trying to avert the fiscal cliff. senators are leading the negotiations and they have until midnight tonight to come up with a compromise before massive spending cuts and tax increases kick it. that affected university about every one of us around the country. senator harry reid expects us to reconvene this morning. sue rae chin has more. >> reporter: member of congress left meetings on capitol hill sunday without a deal hours before the nation is set to fall off the fiscal cliff and negotiatations continue. >> reporter: if republicans and democrats can't strike a dell before midnight monday, taxes will go up for almost every american. automatic spending cuts will kick in and millions will lose unemployment benefits and i'm billing to get this done. >> reporter: republicans introduced but quickly withdrew a proposal to cut the deficit by slowing the growth of social security. but senators say there is some movement as both sides try to pro mize about which americans should start to pay a higher tax rate. >> republica
MSNBC
Dec 31, 2012 12:00pm PST
hoping for and working on but it is a deal nonetheless and will prevent at least part of the fiscal cliff set to go in to effect in a matter of hours now. >> mike, we talk a lot here about the sequester, the income tax rates for the wealthy and other issues that need to be resolved or one on the table. one that's not on the table, the payroll tax extension is just gone. unemployment insurance extension looks like it's part of this. and medicare dock fix. you have any sense of two other things that obama's been looking for here? one is an extension of the expansion of the refundable tax credits of stimulus in 2009. these are things pushing for. if that's part of it and obama looking for at least some infrastructure, some stimulus spending. are any of those components in this deal? >> i don't think the spending part is addressed. i could be wrong and i believe per child tax credit is, in fact, addressed and extended in some way, shape or form and heard the president say some of the incentives for green energy in place in the stimulus. as well. i'm not sure if i heard you mention the alterna
LINKTV
Dec 30, 2012 4:00pm PST
cliff. it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cuts next year. the big concern over falling off the fiscal cliff is it will send the u.s. back into a recession with, of course, global repercussions. it could be weeks before anyone feels the effects. and analysts say even without an agreement, politicians can reach other deals to soften the impact. >> u.s. president barack obama making a rare appearance on one of u.s. tv's agenda-setting sunday shows. he appealed to politicians of both parties not to let the u.s. go off the so-called fiscal cliff. the budget crisis, some kay -- say could tip the u.s. into recession dragging the rest of the world with it. >> over the next 48 hours, regardless of partisan differences our top priority has to be that taxes on middle class famili
NBC
Dec 31, 2012 4:00pm EST
like the deal will not be made before the new year, so technically we are going to go over the fiscal cliff, but if we get a deal in the next couple days, everything could be made retroactive. they remayes optimistic a deal will be reached. indeed dow jones industrial average going up 168 points. >> we haven't seen them panicking so far. >> not yet, but last friday there was concern we would not get a deal and we saw the market sell off, and then the futures, which indicate where we'll open the next trading session, they completely collapsed. they have come back on an optimism we will get a deal, but listen, there's still a lot of sticking point. the number of deductions people may raise. the republicans want to cut spending. nothing is worked out yet, but the market does remain hopeful. >> market closed for the last time of the year. can you give us a picture of the year as a whole on wall street? >> the year was pretty good, to be honest. the dow jones industrial average making solid gains, but the s&p 500, a broader induction, that's up double digits. the nasdaq was the big winner.
CBS
Dec 31, 2012 4:30am PST
to 8 hours to see it. it's part of history so people want to see it. >>> 4:57. the "fiscal cliff" deadline just hours away. talks are stalled. can lawmakers get a deal done in time? >> we'll see. plus, a driver crashes into a concord funeral home during services. what police say was happening that could result in charges. >> a house fire in san francisco's excelsior district has firefighters raising eyebrows. we'll tell you why something illegal might be behind the cause. lawmakers have just hours to prevent tax hikes and spendg cuts.. r a deal? >> your realtime captioner: linda marie macdonald >>> peering over the "fiscal cliff," lawmakers have just hours to prevent tax hikes and spending cuts. is there any hope for a deal? >> reporter: firefighters are calling a house fire in san francisco's excelsior district suspicious. we'll tell you why in just a few moments. >> it's a frosty start to this last day of 2012. what about rain? could we see that on new year's eve? weta
ABC
Dec 31, 2012 6:00am EST
. the fiscal cliff deadline is just hours away and no deal. how high will taxes go? >> some homes in the prince william counties area will not be getting a local newspaper anymore. i will have details coming up. >> thank you. 2013 with these live pictures has started in some parts of the world. they are ringing in the new year with the big fireworks display right now in new zealand. beautiful display. good morning, washington. i am scott newman. i's check out our new your forecast. >> it is a pretty decent look at 2012. it 2013 not quite as gray. most of the week should be fine. we have the clouds pushing in from the west. they will slowly increase throughout the day today. i think we will have a lot of filtered sun shine through the morning hours. 21 in manassas. at 24, dulles. 30, d.c. we will warm up throughout the day into the low to mid 40's. right about where we should be for this time of year. more on a wintry mix shortly with the seven-day forecast. let's see how things are moving this morning. a few accidents. >> that right. the major accident is in virginia on route 28, you c the veh
FOX
Dec 30, 2012 10:00pm EST
-day mark of the fiscal cliff. we have an update on where things stand, plus our analyst, mark plotkin, weighs in. >> later, parents can breathe a sigh of relief. finally a social networking site that is kid friendly. those stories and more coming up on the news at 10:00.  >>> new tonight, secretary of state hillary clinton is in a new york hospital tonight, after doctors discovered a blood clot. it stems from a concussion she suffered earlier this month. doctors found the clot during a follow-up exam. she'll remain in the hospital the next 48 hours so doctors can monitor her medication. >>> the looming fiscal cliff, lawmakers on capitol hill today, leaders say no deal is in sight. >> happy new year. >> reporter: the house and senate back to work for a rare sunday session, trying to figure out the fiscal cliff negotiations. a lot of talk. very few solutions so far. >> our membership is as frustrated as the american people we're sworn to serve. >> none of the votes we'll be casting today have nothing to do with the deadlines we face in slightly more than 24 hours. we're here, we're r
CNBC
Dec 31, 2012 9:00am EST
people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >> i'm not going to put a lot of credence in the futures this morning. i think that's out of the picture for a lot of people. they didn't really notice it because it happened after the close. we're really not going to put any credence in it downstairs today. obviously everything has to do with what they're going to negotiate starting at 10:00. funny thing is, why 10:00? why are we waiting so long? this is a question that everyone has down here, and everyone has across the country. >> you guys are in here at 7:00 a.m. >> yeah, why not start then? this is an important issue. obviously this is the only issue right now for
MSNBC
Dec 31, 2012 8:00am PST
're keeping our eye on the senate back in session with the fiscal cliff talks now down to the wire. the big question is even if the senate reaches a deal as they continue the debate will republicans pass anything with tax hikes in the house? up next republican congressman tom cole. and baby makes three. kim kardashian and kanye west's big baby announcement. also, sydney, australia celebrating the new year just three hours ago with fireworks over the famous opera house. in new york city, an already crowded times square. people waking up there. our big question what is your new year's resolution for 2013? tweet me at richard lui. we'll share some of your comments later. >>> a live look at the markets which appear to be taking going over the fiscal cliff in stride. many people say it is built into the market. many investors are still confident leaders will strike some sort of deal as talks go down to the wire and even if they don't they are counting on senate majority leader harry reid to present a backup proposal to limit some of the damage. we're watching live pictures on the right-hand side
ABC
Dec 31, 2012 6:30pm EST
over the fiscal cliff. and when that ball comes down in times square tonight, every american's taxes will go up. what happened? >>> the other breaking story tonight. hillary's health. doctors reveal it is a blood clot near mrs. clinton's brain keeping her in the hospital. dr. besser right here with what this means. and what mrs. clinton just told barbara walters after becoming the most traveled secretary of state. >> are you exhausted? >> i am. to be honest, i am. >>> the big chill. a million americans in times square tonight. this evening, the security, the weather. some of the coldest temperatures of the winter. and what we didn't note about something else that will be falling at midnight. ginger zee in times square. >>> and, so long. >> so long. so long. so long. >> the man who said himself, "the show must go on." the first new year's without dick clark, as we heard tonight from his wife. she answers the one question she says so many have been asking her. >>> good evening on this new year's eve. diane counting down with her family. tonight, the other countdown here. the one in was
NBC
Dec 31, 2012 5:00pm EST
on it tonight, but that too could change. >>> does that technically mean we're going over the fiscal cliff? >> msnbc's luke russert is live to explain why some congressional aides are call it a fiscal slope and not necessarily a cliff. good evening, luke. >> good evening, how are you doing? >> great. >> what we're seeing is this idea that the house represents will not teenage are take many any compromise, the reason simply being there's no bill for them to vote on. they do believe they could vote on something as late as midmorning tomorrow, maybe even all the way to january 2nd. it's not a fiscal cliff so much as a fiscal slope. they believe if the markets think congress is working towards a deal, that's enough to avert any real economic calamity, however, if you see january 2nd and still no deal and market's not performing well, maybe that will make them work towards an agreement that much more quickly emplts so this event at the white house, the president did not hold back. that didn't sit well with a lot of republicans. >> no, it did not. one of the hangups, guys, is remember the seques
MSNBC
Dec 31, 2012 11:00am PST
saying a deal to avoid the fiscal cliff is in sight and not done yet. in the wake of that, stocks are higher as investors remain laser focused on the fiscal cliff negotiations and right now the dow up about 70 points right now and that could break the string of five straight losing sessions on wall street. now joining me is sue herrera. how are you investors feeling? >> i think rather uncertain because as the president said, the deal is in the works but it is not done yet. wall street is aching for a deal. we saw that as the president was speaking at 1:30 p.m. eastern time. the dow jones industrial average up 75 and then mentioned the fact that we weren't getting the deal done right now at this very minute. we sold off on the trading session so wall street needs some certainly. it doesn't need a band aid approach and unfortunately it looks like that's what we're going to get. that's probably better than going over the fiscal cliff but wall street's a very fickle place and they like more certainty than right now. >> cromwell much, he said in the past that what needs to happen to ge
ABC
Dec 31, 2012 4:30am EST
for lawmakers to reach a deal in order to avoid the fiscal cliff. leaders remain at odds over key issue, including the income -- income threshold for tax rates. we have war. >> in a rare sunday night session -- >> i think the enormity of the issue is very clear. >> u.s. senators gathered to solve a self-imposed crisis. >> this is the wrong time for us to go over the cliff. >> their plan to carve out a compromise dissolved. >> there is no single issue that remains on impossible sticking point. >> we are willing to make difficult concessions as part of a balanced agreement. >> january 1, steep tax hikes and big budget cuts go into effect potentially causing widespread damage to a fragile economy. >> regardless a partisan differences, our top priority is to make sure that taxes on middle-class families do not go up that would hurt our economy. >> the plan before the senate would prevent a tax increase for american workers extend unemployment benefits, and stop a slash in payments for doctors participating in medicare. some blame obstructionists in the republican controlled house. others po
CNN
Dec 31, 2012 2:00am PST
to go before america goes over the fiscal cliff. final day for democrats and republicans to get a deal done. if they don't, your taxes go up at the stroke of midnight. the two sides brought in their so-called closers on sunday. vice president joe biden and senate minority leader mitch mcconnell. working behind the scenes as they have successfully done in the past. the senate went home last night and they are going to get in this morning at the bright hour of 11:00 a.m. eastern. i don't understand how that works. we are not seeing any evidence of progress in either chamber, but as i said, mcconnell and biden are talking. that's important. these two guys have a long history together, and have an ability to cut a deal. one major stumbling block has been overcome. republicans have dropped their demand to reduce social security, cost of living increases. you will know that as the chain cpi. >> and the public has taken their demand for social security benefits off the table. the truth is they never should have been on the table to begin with. significant distance between the two sides, but n
CBS
Dec 31, 2012 4:30am EST
a deal. hours before the nation is set to fall off the so-called fiscal cliff. >> there is still significant distance between the two sides, but negotiations continue. >> reporter: if republicans and democrats can't strike a deal before midnight monday, taxes will go up for most every american. automatic spending cuts will kick in. millions will lose unemployment benefits. >> i'm willing to get this done but i need a dance partner. >> reporter: republicans introduced but quickly withdrew a proposal to cut the deficit by slowing social security. >> there is a lot of give and take going on right now but republicans don't want to see tax increases used for new spending. >> reporter: vice president joe biden was called on to help with the negotiations, this as the white house places a lot of the blame for the impasse on the gop. >> they say their biggest prior is making sure we deal with a deficit in a serious way. but the way they are behaving is their only priority is making sure tax breaks for the wealthiest americans are protected. >> reporter: if a deal isn't reached the preside
ABC
Dec 31, 2012 3:00am PST
to the fiscal cliff. talks are going on through the night to try to reach a deal. >> without an agreement, the average american family would see a tax increase of more than $3,400. abc's preeti arla is joining us from washington with more on what this means. preeti? >> reporter: john and paula, top leaders seemed optimistic, but that seemed to shift as the day went on. that optimism replaced by pessimism and still no deal with time running out. the clock is ticking, negotiations are ongoing. but at this point, democrats and republicans remain at odds. >> regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up. that would hurt our economy badly. we can get that done. >> reporter: president obama called for immediate action but there was no vote in the senate. >> we're going to come in at 11:00 a.m. tomorrow morning, and we'll have further announcements perhaps at 11:00 in the morning. i certainly hope so. >> reporter: minority leader mitch mcconnell called vice president biden in for help. biden is now said to be playing
KRON
Dec 30, 2012 8:00pm PST
to other developing news tonight. no deal on the fiscal cliff. if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. senate majority leader harry reid says while negotiations are on-going, the senate will not vote on any plan this evening. elizabeth corridan is monitoring the situation from washington, d-c. senate majority leader harry reid says while negotiations are on-going, the senate will not vote on any plan this evening. the senate will reconvene monday morning, at which point there will be just over 12-hours until the u.s. goes over the fiscal cliff. >>> if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. elizabeth corridan is monitoring the situation and brings us the latest. --reporter pkg-as follows -- " as we gather with so much work undone, guide our lawmakers with your wisdom." the senate convened its rare sunday session with a prayer for progress. the house returned from its holiday hiatus. with less than 48- hours until the u-s economy goes o
CBS
Dec 31, 2012 12:00pm EST
over the so call fiscal cliff. and the two sides are not close on a deal. if republicans and democrats cannot come to an agreement, before the midnight deadline, taxes will go up on all americans beginning tomorrow. and economists believe that we will plunge into another recession. danielle nottingham has more from the white house. >> reporter: members of congress arrived at the capital to work on new year's eve to try to avoid massive tax increases and spending cuts from taking effect in just hours. >> there are a number of issues on which the two sides are still apart. but negotiations are continuing as i speak. >> reporter: sources say both sides are starting to pro mize on which families will keep bush era tax cuts. the president wand families making more than $250,000 to start paying more. democrats are reportedly negotiating to raise that limit. >> let's get this thing done. tonight when the ball drops, let's make sure we haven't also dropped the ball. >> i'm sorry that we are here, on new year's eve, and that we haven't solved this problem long ago. >> reporter: most of the nego
FOX
Dec 31, 2012 5:00pm EST
, guys. >>> coming up next on the news at 6:00, the fiscal cliff debati continues ffwith no deal in sigt for tonight.fo should americans be concerned? the latest details from capitol hill, plus a fox 5 political analyst weighs in on the topic,. >> and we are about 6 hours away from 2013, we're taking you live to a crowded sometimes square.ar >> he may be the redskins numbei one supporter. we introduce you to the super fan with the redskins fan
MSNBC
Dec 31, 2012 2:00pm PST
. just seven hours now until the nation goes over the fiscal cliff. and after weeks of negotiations and public posturing, democrats and republicans have reached an agreement on tax rates in their negotiations. let me tell you what we know at this hour. the deal is said to raise $600 billion in revenue over the next decade through a series of tax increases on the wealthiest americans. th bush era tax rates would be text ended for all single americans with incomes below $400,000 and couples with income below 45000$450,000. all income above that would be tacked at 39 pittsburgh.6%. the deal is said to include a permanent fix for the alternative minimum tax and it extends unemployment insurance for another year for 2 million americans. this was huge for the democrats. speaking at the white house in front of a group of middle class americans just a few hours ago, the president urged congress to act immediately. >> for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. democrats and r
WETA
Dec 31, 2012 6:00pm EST
. president obama said a deal is in sight to stop america going over the so-called fiscal cliff. congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there yet. one t
FOX News
Dec 31, 2012 2:00am PST
lawmakers do not appear close to reaching a deal to avoid the fiscal cliff we may be going ov going over. >> secretary of state hillary clinton in the hospital right now doctors discovered a blood clot. you can forget about days we are down to hours for law americas to reach a deal. >> doug luzader live from washington with the latest. doug? >> a deadline is hours away come midnight. it's not just the tax hikes that are scheduled to hit it's big cuts in government spending as well. 2013 could be off to a difficult start if there is no resolution. listen to this bleak assessment from capitol hill. >> the future of the country rests in the hands of 70 and 80-year-olds who have jet lag it's probably not the best thing. >> could joe biden be the fix? he appears to be taking over for democrats after a counteroffer to prevent a big tax hike is met by silence. harry reid says democrats couldn't respond. >> there is still significant difference between the two sides but negotiations continue. there's still time left to reach an agreement and we intend to continue negotiations. >> i am willing to
CBS
Dec 31, 2012 6:00am PST
the "fiscal cliff." that's required. is there going to be a deal today? we're all waiting and plus we'll take a look back at the biggest news stories:2012. we'll see you at 7: 00. happy new year. >> happy new year to you, too. thank you so much. >>> well, the last session of the year is under way on wall street. the dow has gained about 700 points in the last 12 months. ashley morrison of cbsmoneywatch.com joints us now. good morning. >> reporter: good morning. happy new year, everyone. strong manufacturing growth in china fueled most markets this morning. the shanghai composite gained more than 1.5% while hong kong's hang seng lost a fraction and tokyo's nikkei was closed for the holiday. >>> today is the last trading day of the year on wall street. investors are keeping a close eye on the "fiscal cliff" negotiations. with the deadline at midnight, let's head to wall street see where we stand as investors are watching closely to see what happens. as you can see the dow and the nasdaq are mixed at this point. the dow is down by 23 points. the nasdaq is higher by almost 7 points. >>> ford moto
CBS
Dec 31, 2012 7:00am PST
wake up the deadline to the fiscal cliff is just 14 hours ai wa. there's no deal yet, but members of congress are heading back to capitol hill. first, breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that's kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret good morning. >> reporter: good morning to you. secretary clinton is taking anti-coagulant to thin out the blood clot. doctors will monitor her for at least the next 48 hours. >> a warm welcome to the secretary of state. >> reporter: secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. >> thank you very much. how are you? >> reporter: clinton's health scare began after she contracted a stomach illness following a whirl wind trip through eur
ABC
Dec 31, 2012 7:00am EST
the fiscal cliff today. can a lais-minute deal be reached? one source revealing this is how talks are really going. >>> and look at this. a rare fight caught on camera. two of the most gentle creatures on the planet breaking out in a wild showdown. giraffes. does this battle all come down to a woman? >>> and we're counting down to the biggest party in the world. get your party hats on and get ready to celebrate. we're live with where the ball will drop tonight. ryan seacrest is helping us ring in the new year. only on "gma." >>> and good morning, america. the new year, of course, has already begun on the other side of the world. out here in times square, we have a crowd. there you see the celebrations in auckland, knnewzealand. we get ready to say happy new year. george, robin, josh, sam, and lara are all off. we're glad to welcome dan abrams, ron claiborne and rachel smith. >>> we have a big news cycle going on. secretary of state hillary clinton in the hospital. we'll get to that in just a moment. a diagnosis of a blood clot. >>> we have some weather stories. including the latest on this h
ABC
Dec 31, 2012 5:00pm EST
will feel the impact of the fiscal cliff very quickly. the average american family will see a tax increase of more than 3400. if the senate is able to pass a deal, top house republicans aren't confident they'll have the time to get it done by midnight, which means taxes will go up, but the house will meet tomorrow, and they will be voting on a tax cut. >>> so, while there is still no deal on the cliff chef, lawmakers have reached a tentative agreement to keep milk prices from going up in 2013. the house and senate have developed a short-term farm extension bill that who last one year. it's not clear when they who bring it to a vote. if the measure isn't passed by midnight, the government would be forced to buy milk at twice the amount. just head to our home page and look under the featured stories section. >>> today was the deadline to file for maryland's homestead tax credit it. restricts the amount that your property tax can go up f you missed the deadline, you have one last chance to turn in your tax credit application, but you have to do it on wednesday. well, starting tomorrow same se
FOX
Dec 31, 2012 9:00am EST
to the buzzer this morning.there is ssill no deal on capitoo hill regarding the so called 'fiscal cliff' and today is the deadline for work ii just 3 hours. senaaorr went home last night without conninue today after hitting a standstill.at odds?the income threshhld for tax breaas. larsoo says: "ww understand and ccntinue to be befuddled whh we can't bring up proposals ttat can get the coontry back to wwrk,,why ww can't deel with a tax cut for the middde class, especiallyy country needs to go bbckkto ptune says there's a lot of republicans doo't want to see spendinn." if a deal is american. if you want to see how much your taxes wwuld go uppwittout the fscal cliff agreement.. go to foxbaltiiore dot com slash morning. secrettry of state... hillary clinton s back in the hospital today... aater doctors discovered a blood cllt. clot.clinton... who was ssheduled to retuun to wwrk doctors... for the mediccne they've given her.clinton has been dealing with healthh issues for several weekss faintiig... while recovering d 3 from a stomach vvrus. the health of former president geoogg h-w
MSNBC
Dec 30, 2012 4:00pm PST
to continue to drive me. and i think that the issue that we're dealing with right now in the fiscal cliff is a prime example of it. what i'm arguing for are maintaining tax cuts for 98% of americans. i don't think anybody would consider that some liberal left-wing agenda. that used to be considered a pretty mainstream republican agenda. and it's something that we can accomplish today, if we simply allow for a vote in the senate and in the house to get it done. the fact that it's not happening is an indication of you know, how far certain factions inside the republican party have gone where they, they can't even accept what used to be considered centrist mainstream positions on these issues. now i remain optimistic, i'm just a congenital optimist, that eventually people kind of see the light. winston churchill used to say that we americans, we try every other option before we finally do the right thing. after everything else is exhausted, we eventually do the right thing. and i think that that's true for congress as well. and i think it's also important for americans to remember that polit
MSNBC
Dec 31, 2012 3:00am PST
go over the so-called fiscal cliff. senate leaders spent the weekend working on a last-ditch deal and the house comes back today for a rare sunday night session. yesterday afternoon in an exclusive interview, president obama sat down with me in the blue room of the white house to discuss the way forward and his priorities for a second term. mr. president, welcome back to "meet the press." >> it's great to be here. thank you. >> so the obvious question, are we going over the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended, and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purc
CNBC
Dec 31, 2012 4:00pm EST
this talk about fiscal cliff is mostly hooey. the truth is, this isn't a big deal. i heard somebody on this program lamenting how dramatic it is to fall over the cliff, it's not true. it's a slope. >> you think we is can have a good 2013, in terms of growth? >> i think we are. but it sure would be better to give the investment community that we're seriously going to do something about the deficit. >> thanks, howard. happy new year. >> to you guys. >> thank you. >>> what a difference a day makes, right bill? >> yes, indeed. smaller paychecks, higher taxes could be in our futures after midnight tonight. a quick summary of what may and will change by going over the cliff is coming up next. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prosp
FOX
Dec 30, 2012 11:00pm EST
the fiscal cliff will not avoid anything for sequestration. so he'll need to write 800 layoff notices to contractors. >> if the president doesn't deal with this, he's a lousy commander-in-chief. if there's a deal done that doesn't set aside the defense cuts, we've already cut out of the it was department, then i'm disappointed in the president as commander-in-chief and the republican party for allowing this possible a party. >> reporter: sequestration is designed to be painful. it was imposed by congress on itself when the super committee didn't work it out. president obama said today the cuts can be offset by raising taxes on the rich. >> we have raised revenue by the wealthy paying a little bit more, then that would be sufficient to turn off the automatic spending cuts, and that also would have a better outcome for our economy long- term. >> reporter: senator graham told me he thinks it's possible to find $600 billion in cuts elsewhere to spare the department of defense the next decade. but he thinks a bipartisan agreement can't be reached until february or march. >>> small business
CSPAN
Dec 30, 2012 9:30pm EST
republican kay bailey hutchison from the senate floor but the lack of a deal to avert the fiscal cliff. >> the senator from texas. >> mr. president, we are here just hours before a looming deadline that is going to affect just about every american in some way and i do believe that both sides of the aisle and both sides of the rotunda want to come to a conclusion that will keep us from having what looks like a complete meltdown of governing in washington. someone asked the question in one of our conferences, when was the last time that congress was in session and voting between christmas and new year's. the answer was since 1970 there has not been such a session and it has actually happened only four times in the history of our country and two of those times were dealing with world war ii. so i think enormity of the issue is very clear. that's why we are here. i think we should have done this six months ago, a year ago. i think all of us agree that we shouldn't be here at this last hour still trying to negotiate a point at which so many americans are going to be more heavily taxed. i wa
ABC
Dec 31, 2012 4:30am EST
>> are you voting for >>> fiscal cliff is hours from reality, are our elected leaders closer to a deal? we will take a look. >>> murder in 2009 and 20102010, the crime scene tape is up again, arundel county watering hole is the scene of a weekend shooting. >>> hello 2013, a look in preparations for the big new year's eve celebration locally and around the nation on this monday, december 31st, good morning, thank you for joining us i'm charley crowson. meagan is off today for this, the final day of 2012. how are things going to be out there weather wise? first, got to know how it's going to be today. here is mike masco. >>> we will do a lot of clouds this afternoon, a cool note. look at the temperatures, 27 baltimore, stevensville, easton be 1. a wind right now. making the temperatures feel like it's in to the teens in spots. manchester, one of the spots. 21 baltimore. chilly start this morning, that will give way to clouds today. if you notice on the satellite picture, a lot of broken clouds across the region. that's the deal towards the afternoon hours. temperatures around 4
NBC
Dec 31, 2012 11:00am EST
-called fiscal a cliff right now. the house and senate are striking a deal oh avoid massive tax hikes and spending cuts. derek ward is live with more on what's happening today. >> the end is near. that's the end of the year, of course. what about the path that ends at the end of the fiscal cliff. senators should be back at it. the house reconvened this morning. such new year's eve appearances are on the hill. senate minority leader mitch mcconnell and joe biden kept in place to avoid $200 billion in tax increases. broad stroke spending cuts and domestic and defense spending. they would take effect gradually over a period beginning at midnight if the white house and congress can't reconcile their differences. it appeared to have been movement on the cost of living increases for social security recipients. opposition to the white house's proposed rate of increase was dropped but the common ground is even shaky. the fierce disagreement over whether the bush era tax cut with the top income earners should be allowed to expire while middle income earners would see tax relief. the sticking p
CBS
Dec 31, 2012 5:00am PST
. >> and deadline day with the "fiscal cliff" just around the corner. why congress still can't close the deal. >> reporter: and we're live in san francisco, where firefighters are calling a house fire in the excelsior district suspicious. we'll tell you why and what may be behind the cause. ,,,, ,, it seems our angels have been busy building a new, stronger angel soft®. it's built with two softshield™ layers. stronger, holds up better, and still a value you love. new angel soft®. now stronger than ever. dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. house fire in san >> your realtime captioner: linda marie macdonald >>> arson investigators looking into a house fire here in san francisco. what made things so dangerous for the firefighters. >> skies clearing out very chilly around the bay area. will it rain on new year's eve? we'll talk about that coming up. >> and bart is offering extended service later on tonight for the new year's eve holiday. a check on that plus the rest of your morning commute. >>> good morning, everyone. it's mo
FOX
Dec 30, 2012 10:00pm EST
, i'm jjnniferrgilbert. you've fiscal cliff lately, here's congress decided to create a meehanismmthht cut militaay spending and entitlemmnt trillion dollars to try to force themselves into a deaal deal. that cliff is heree and it arrives as taxes are set o go up on all americans. anyone making ovee four year to pay more in taxes. conservative republicans don't want to raise taaes on anyyne. they're deeand only áspending cutsá to curb he country'ss debt. vice president biden and minorityyleeder mitch mcconnell are now talking agreement bott sidessof the senate caa agree on. 3 3 &p obviously, whaa had happened here between the two leaaers innthe senate had broken down because the senatt democrats republiianssmade last night. so hoppfully, the discussions back on track, hopefully get a can vote on, hopefully today - or tomorrow. it's not just your taxes, in 26 hours will have a edinn devastatiig effect on deffnse cuts will spiral outward to government conttactors aad coull lead tt widespread layoffs according to economisss. 3 and we're tracking morr breaking
MSNBC
Dec 31, 2012 5:00am PST
away if we go over the fiscal cliff? >> no, because there is going to be a little deal and we're going to continue to struggle and we're going to continue to have basically slow growth. that's the most likely scenario. >> i rarely agree with jeffrey, but a agree there. we're going to be sitting at this table in a couple months having this exact same discussion. >> whereas had we done the big deal seven weeks following the election, i believe the economy would have exploded. >> mary thompson, would wall street have exploded if we had a big deal? that would have been good news. >> if we had a big deal, that would definitely provide a catalyst for wall street. in large part, remember, the thing about the markets is they don't like uncertainty. >> right. >> once you clear up the uncertainty, there is a clear path, and that, a number of people say, could really send the markets off to the races. the u.s. economy, the fundamentals are there, and that's frustrating business owners, because they think they're in a good position, but what they need is clarity from washington. >> so, basically,
FOX Business
Dec 30, 2012 10:00pm EST
hill they can do so again. >> less than 26 hours from what everyone calls a fiscal cliff. it would be comprehensive big package we hear them talk about, the big compromise that speaker boen and the president had worked out a year and a half ago? >> if you want what is known a as the grand bargain you would likely get in two steps. a small down payment, a tax rate increase and some of the spending measures and some of the other tax measures and perhaps instructions for the next six to eight months to congress to work on entitlement and spending reform and broader tax reform package. but all those specific details when you talk about entitlements and spending on the bigger side. $3-4 trillion deal that would have to be filled in over the next year. >> all right. rich, we appreciate it. just a reminder, 5:00 a.m., cheryl casone will have the latest on overseas trading but also any potential deal or leak that has a deal may be in the works. find out right here on the fox big network. fox business network team starting here at 5:00 a.m. here in new york city. that wraps it right now. we
ABC
Dec 31, 2012 7:00am PST
on the fiscal cliff. just a matter of hours until we officially go over the edge. still no deal in sight. lawmakers scrambling this morning to put together an 11th-hour compromise or we'll be ringing in higher taxes along with the new year. jonathan karl is in washington. good morning, jon. >> reporter: good morning, dan. with taxes set to go up at the stroke of midnight. talks went late into the night and will continue this morning. as washington teeters on the edge of the fiscal cliff, there is still no deal. as talks continued overnight, a voice of frustration erupted on the senate floor. >> something has gone terribly wrong when the biggest threat to our american economy is our american congress. >> reporter: the republican and democratic senate leaders negotiated all weekend long. the talks hit a brick wall. harry reid saying he was unable to even counter the latest republican offer. >> at this stage, we're not able to make a counteroffer. it appears that there are things that stop us from moving forward. >> reporter: that prompted mitch mcconnell to call for a lifeline. >> i also p
CBS
Dec 31, 2012 7:00am EST
for the fiscal cliff is less than 24 hours away, and there is no deal yet, but members of congress will be back on capitol hill this morning, so we will have all the news from washington in a moment. but first there is breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that has kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret, good morning. >> good morning to you. secretary clinton is taking anti-co-ag lands to thin out the blood clots. doctors will report lid monitor her for at least the next 48 hours. >> welcome to the secretary of state. >> secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. clinton's health scare began after she contracted a stomach illness following a whirlwind trip through europe. that virus led to extre
NBC
Dec 31, 2012 6:30pm EST
are headed over the proverbial fiscal cliff. we say that because the senate hasn't voted on any kind of deal. you see it there live. and the house has said even if there is a deal, they're not going to bring any bill to a vote on this new year's eve. so the big question tonight, what impact will it have on every american? we have all of it covered, and we begin with nbc's kelly o'donnell for the latest from capitol hill. kelly? >> reporter: good evening, kate. well, congress is out of time, and frustrations are really running over. and while democrats and republicans say they want to find a solution and they are working toward that, they don't have a deal yet, and that means for now there is nothing to vote on before tonight's deadline. with your money on the line, tonight washington can only claim progress. but not success. >> it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. >> we're very, very close. >> reporter: close comes after intense, closed-door negotiations that kept even most members of congress in the dark. the white house and se
ABC
Dec 31, 2012 4:00am PST
major story, the looming fiscal cliff. lawmakers worked through the night to try to reach an agreement. >> without a deal, taxes are set to go up for just about every american. tahman bradley joins us from washington with more on the stalemate. tahman? >> reporter: john and paula, good morning. tension is growing here in washington, after weekend talks failed to lead to a deal. if there is no breakthrough today, the country will go over the cliff. talks continue but this morning, there is still no deal. >> we'll have further announcements, perhaps, at 11:00 in the morning. i certainly hope so. >> reporter: republicans and democrats negotiated all weekend, with the hope of passing legislation to protect most people from a massive tax hike. >> our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly. >> reporter: there was optimism about deal over the weekend, when the republican leader in the senate, mitch mcconnell, made an offer. that ended when harry reid said he could not present a counterproposal. in a hail mary, mcc
NBC
Dec 31, 2012 7:00am EST
from the hospital. >>> last chance. the nation now just hours from going over the fiscal cliff after lawmakers fail to reach a deal over the weekend. could a last-minute push from vice president joe biden get something done before your taxes go up? >>> and oh, baby. kanye wecakanye west surprises y announcing his girlfriend, kim kardashian, is pregnant with their first child. how her family is reacting to the news "today," monday, december 31st, 2012. >> announcer: from nbc news, this is "today" with matt lauer and savannah guthrie live from studio 1a in rockefeller plaza. >> welcome to "today" on a very busy monday morning. i'm willie geist. >> and i'm erica hill. matt and savannah have the morning off. >>> we'll have the latest on secretary of state clinton's condition in a live report straight ahead. it is the last day of 2012. >> you and i are both in the same situation with young children. >>> people filing into times square in new york city. it is the world's biggest party. of course, security will be extremely tight. we'll check in on celebrations there and around the world. >
CW
Dec 30, 2012 9:00pm CST
to strike a deal is tomorrow.... or, the u-s plunges off the so- called fiscal cliff and possibly into an economic free fall. facing a dreaded combination of spending cuts and tax hikes... president obama made an appearance, on n-b-c's meet the press. "regardless of partisan differences, our top priority has to be to make sure that taxes on middle class families do not go up that would hurt our economy badly." democrats want to keep the bush-era tax cuts for everyone, except the wealthiest americans. just how wealthy?..is a major sticking point... with negotiations now focused on an income threshold around 400-to-500 thousand dollars. *republicans argue the problem isn't tax revenue...but spending. they want reforms to entitlements. but a proposal to change the way social security benefits are measured against inflation was pulled from the table. vice president joe biden -- talked to minority leader mitch mcconnell several times today...in an effort to break the stalemate. hopefully, the discussions between the vice president and senator mcconnell will get us back on track, hopef
FOX
Dec 31, 2012 7:00am PST
or else the country will go over the fiscal cliff. >>> there is a new dairy cliff bill. leaders in the house and senate agriculture committees agree to a one-year extension of the expiring farm bill. so far, no house vote is scheduled. if this bill is not passed, the price of milk could double next month. some estimate that a gallon of milk could go up to $8 a gallon. >>> 8:16. today, a second volunteer firefighter who was shot and killed in upstate new york will be laid to rest. [bagpipes] >> yesterday, hundreds of police officers paid their respects to michael chippairini. investigators say he and tomasz were shot after someone shom them responding a fire. >>> a car crashed into a funeral home at the wyemoth funeral brothers. it was just about a funeral was about to get underway. police say it appears two teens were racing when they lost control and crashed their car into the building. >> literally, five seconds after i entered the side rule -- side room, we saw the car careen into the building. >> the teens were taken to the hospital with serious injuries. a 66-year-old man i
NBC
Dec 31, 2012 5:00am EST
cliff deadline. congress is reportedly inching closer toward a deal. the house will reconvene at 9:00 this morning, the senate returns to capitol hill at 11:00 a.m. talks hit a standstill yesterday after senate republican leader mitch mcconnell o proposed social security cut. democrats rejected the plan. aides say lawmakers reached a compromise on key issues like taxes for wealthier americans. meantime, vice president joe biden has taken over as lead sn negotiator for the democrats. if a deal is not reached by midnight, 2 million people without jobs will not get unemployment insurance starting tomorrow. sharp cuts in defense spending will begin to kick in on january 2nd. >>> if nothing else, it looks like there will be a deal to keep the price of milk from skyrocketing the leaders in both parties agreed to a one year extension to the 2008 farm bill that x pierd in october. the deal will avert a spike in milk prices to as much as $8 a gallon. the plan has to be put to a vote in the house and senate sometime today. >>> today hundreds of thousands of revelers will bring in the new yea
LINKTV
Dec 31, 2012 5:30am PST
a temporary deal. >> the importance of the u.s. this cliff is extremely -- u.s. fiscal cliff is extremely high. the main growth engines are firstly china, which will grow at about 8%. the u.s. is still very important. we are expecting growth of about 2%. if the u.s. goes off of this book with and you have very weak growth, that will be a huge dent in the global outlook and will have transmission of sex to the rest of the global economy at that time when the eurozone is still in recession in japan has also slid into recession. the risk is that this negotiation process could be protracted. i think president obama is proposing the concept of a fallback option, which would at least deliver some of the extension of the tax cuts and also unemployment benefits, which is very important. if the unemployment benefits cease after the first of january, that has an immediate impact on expenditure in the u.s. on about 2 million unemployed people. i think he is going to try to put together a skeleton deal to at least bridge the gap while negotiations continue. u.s. secretary of state -- >> u.s. secretary of
ABC
Dec 31, 2012 6:00am PST
to the wire investors looking over the edge of the fiscal cliff and being afraid of how far u.s. economy could drop if automatic hikes and cuts aren't averted. still hope of a deal. kind of hearing from some in washington, that they are making progress. negotiators did continue to talk overnight, republicans and democrats are closing in on a deal that would have y somewhere between $400,000 and $500,000 a year talks between mcconnell and vice president biden and staffers working late into the night. even if a deal is reached, it is likely to be temporary with another fight over deficit reduction coming next year. market is reacting cautiously. positive in nasdaq and s&p, dow has cut losses as these bits of news trickle out. bloomberg index still trading s(ó airlines say they are always trying to improve customer service, according to one survey they$0!6 should check to see if their employees have an attitude problem. 1,000 people were asked which airline had the rudest employees, american topped the list, 25% criticizing the manner of the workersg4p, united second, followed by delta andj0a
FOX
Dec 31, 2012 5:30am EST
for a rare sunday sesssin...trying to figure out the fiscal cliff negotiations.a lot of talkk very few solutions so faa. larson saas: "our membership ii as frustrated as the american ppople we're sworn to seevv."beccrra saas: "none of the votes we'll be casting today have anyyhing to do with these deadllne we face in slightty more hann24 hours. &pwe're here, we're ready." president ooama, sitttng down for his ffrst sunday morning three years, ttll n-b-c itts time for lawmmkers to nail doww a deal:obbma says: "we don't yet see an agreement and now the pressure is on congress to produce." republicans and emocrats going back and forth behind closed doors, workkng through the night, trying to avoid ssme of the most painful tax hikes and spendinggccts in our natioo's history.reid says:: "there s still significant pissancc between the tww continue."a possible sign oo progrees came whhn viie back from delaware to thee white houue o work the phones and reach ut to republican ssmeone who he's wooked with on many deals over the years. mcconnell says: "we're willing to work witt whoever, ho
MSNBC
Dec 31, 2012 9:00am PST
of the huffington post. partisan ranker and frustration all around, we've arrived at the fiscal cliff. the senate, which was expected to hold an up and down vote on a final bare bones budget deal last night wasn't quite able to make it happen. harry reid gave us problem or lack thereof. >> there are two sides still apart, and negotiations are continuing as i speak. there's still more before we can bring ledges laying to the floor. what else is new? can anyone save this congress from itself? turns out the new man responsible is vice president joe biden. yep. that's right. joe biden is the latest person to be called on to try to get congress out of the straight jacket they've put themselves in. the vp and senate minority leader mitch mcconnell exchanged phone calls until midnight last night and again this morning, and appeared to be zeroing in on a tax rate compromise in the region of a $450,000 to $550,000 threshold. a higher rate than the president's earlier compromise as well as an agreement on the estate tax. sticking points remain. president obama seemed resigned to going over the cliff. >> if
CBS
Dec 31, 2012 5:00am EST
. >>> we are 1 hours away from going over the fiscal cliff. lawmakers went home last night without reaching an agreement. harry reid expects to reconvene the senate around 11:00 this morning. he is not giving up on reaching a last minute deal. >> there is still significant distance between the two sides. but negotiations continue. >> reporter: a lot of give and take is going on right now. republicans don't want to see new revenues, in other words democrat tax increases be used for new spending. >>> on meet the press president obama accused republicans of protecting the wealthiest americans from tax hikes. >> reporter: the president has asked his plan, which includes tax hikes, to be given an up or down vote. >>> i'm watching your money. asian stock markets mostly closed or traded lower today on diminished hopes u.s. lawmakers can come to an agreement on the fiscal cliff. wall street has a full trading day today. checking the numbers for you the dow starts this morning at 12938. that's right below 13,000 after selling off 158 points on friday. of course over concerns about the fiscal cliff.
NBC
Dec 31, 2012 4:30am EST
closer to going over the fiscal cliff. >> the dream season continues for redskins fans after the team's big win over the cowboys. has them playoff bound this morning. >>> can you believe that? >> going to be a happy new year for everyone. good morning, i'm richard jor n jordan, i'm erika gonzalez.
CBS
Dec 31, 2012 6:00pm EST
and the nation teethers on the edge of the so-called fiscal cliff. >> let's pass the tax relief portion now. let's take what's been agreed to and get moving. >> reporter: the tentative deal would extend bush era tax cuts for families making $450,000 a year and individuals making 40 o,000. it would also extend unemployment benefits for one year. president obama said he would have preferred a grand bargain that solves all of washington's revenue and spending problems. >> with this congress, that was obviously a little too much to hope for at this time. it may be we can do it in stages. >> reporter: negotiations have been going on all day, lawmakers and aids moving back and forth between meeting rooms on what is normally a quiet new year's eve. the major sticking point now is spending. the president suggested lawmakers take action on deficit reduction in the next few months and that more tax revenue could be involved in those discussions. but republicans are furious at that possibility. >> i'm willing to support revenue to deal with this problem. the overall problem. but what i will not agree to is
FOX Business
Dec 31, 2012 6:00pm EST
to reach a deal on taxes and spending. as a result we are going of the fiscal cliff. joining me now, former adviser to president george w. bush and doug shown, democratic strategist and fox news contributor. welcome to you both. >> thank you so much. gerri: am i surprised by what is happening? no. and my interest? no. and so of start with you. how would you grade the president's lead on this issue today? >> well, i'm not trying to give anyone a good mark, the president by and certainly not congress. i hope my colleague in the spirit of the new year would recognize that the entire political establishment has let us down. we are going to get at best that deal on taxes, not going to get anything to reform entitlements or spending. in my question to you, do you think republicans in the house should vote for this deal? gerri: wait a minute. before you go to that i want to mention, we should acknowledge your that there is still a possibility the senate will vote on these ideas that we have described ad nauseam today about extending tax cuts for single ardors of 400,000 less couples, families of 4
MSNBC
Dec 31, 2012 6:00am PST
to avoid the most immediate economic impacts of the fiscal cliff. with 15 hours to go and counting, members of congress are disgusted and embarrassed. >> when the future of the country, you know, rests in the hands of 70 and 80-year-olds who have jet lag, it's probably not the best thing. >> something has done terribly wrong when the biggest threat to our american economy is our american congress. >> the senate will reconvene at 11:00 this morning, but after a day of public gamesmanship and little obvious progress behind the scenes on sunday. >> there's still significant distance between the two sides, but negotiations continue. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> mitch mcconnell called on vice president joe biden to be that dance partner. biden has brokered 11th-hour deals with the republican leader in the past. mcconnell's appeal came just hours after the president appeared on "meet the press" and called out republican leaders by name. >> congress has not been able to get this stuff done, not because democrats in congress don't want to g
CSPAN
Dec 31, 2012 12:30am EST
things stand on the fiscal cliff. >> where do things stand as far as a republican deal? >> republicans advanced a proposal last night and you heard senator mcconnell talk about it on the floor. we're still waiting for a counteroffer. there was an indication we would receive the by 10:00 this morning, but discussions still continue. senator mcconnell and vice president joe biden are continuing to discuss this and we think there still could be a path forward. democrats have come out and made a huge deal out of changing this and republicans are very concerned that it should not be used as an offset to reduce or replace some of the spending cuts that would occur and democrats put forward an alternative. this is a process. there's a lot of give-and-take going on. republicans do not want to see new revenue, democratic tax increases, being used for new spending. that is where many members are drawing the line. >> you all want to use this technical level, but it would really affect social security recipients in the sequester. democrats want to use new revenue from tax increases. is that the wa
ABC
Dec 31, 2012 5:00am PST
hour deal to keep the country from falling off the fiscal cliff? important meetings set to begin in hours. >>> vodka bottle credited with thwarting this stick-up tempt. we'll show you the dramatic video. >>> and michael finney gives your new year's resolution to drop weight a jumpstart. we'll put >>> last day of 2012, good morning i'm katie marzullo in for eric thomas. >>> and i'm kristen sze. clear, beautiful weather. >>> check it out right here, boom, that is clear, no radar returns no rain, the only thing you are going to find is a little frost on the ground this morning because of the chilly temperatures. a few high clouds from time to time, definitely a bright day. off to a chilly start around the bay 34 to 44, 44 in san francisco, the warm spot. by noon, [ inaudible ]
CSPAN
Dec 31, 2012 2:00am EST
republican kay bailey hutchison on the senate floor about the lack of a deal to avert the fiscal cliff. mrs. hutchison: mr. president, we are here just hours before a looming deadline that is going to affect just about every american in some way, and i do believe that both sides of the aisle and both sides of the rotunda want to come to a conclusion that will keep us from having what looks like a complete meltdown of governing in washington. someone asked the question in one of our conferences when was the last time that congress was in session and voting between christmas and new year's, and the answer was since 1970, there ha not been such a session, and it has actually only happened four times in the history of our country, and two of those times were dealing with world war ii. so i think the enormity of the issue is very clear, and that's why we are here. i think we should have done this six months ago, a year ago. i think all of us agree that we shouldn't be here at this last hour still trying to negotiate a point at which so many americans are going to be me heavily taxed. i was pleas
NBC
Dec 31, 2012 12:00pm EST
and tens of thousands of jobs if we go off the" -- off the fiscal cliff. we have more on how the gridlock in d.c. is impacting us across the border in maryland. >> it partisan politics prevail and the cat -- deal, some say maryland could shoulder a greater burden than some other states. the department of legislative services put together a report that estimates just tell adverse the impact would be. if we fall off the fiscal cliff and automatic spending cuts kick in, researchers estimate maryland will lose $117.6 million in federal funding next year, money already in the state budget. economists say to make up for, the state will have to reallocate spending and make cuts. >> and perhaps raise -- raise a threshold for any kind of aid that has federal funds tied to it. it will be a challenge to make ends meet than. the report estimates 53,000 full and part-time jobs will be lost in 2013. that number could be much higher. a huge hit in sales and income tax revenue means the state would lose about $268 million in 2013. and another $635 million in 2014. >> the ability for the state to be the l
NBC
Dec 31, 2012 9:00am EST
the nation from going over the fiscal cliff. >>> the american academy of pediatrics has released a new statement encouraging elementary schools to let kids have their play time. recess gives children the opportunity to develop skills that can't be taught in the classroom, that it should not serve as a substitute for phys. ed. class. fond farewell 75 watt incandescent light bulb. under law, they can no longer be produced or imported as of january 1st though retailers can clear their remaining stocks. government will turn out the lights on traditional 60 and 40-watt bulbs in 2014. >>> it's what everyone is talking about, i think. reality tv star kim kardashian and rapper kanye west are expecting their first child. west made the announcement last night at a concert in atlantic city. west is 35. kardashian is 32, she is in the process of divorcing kris humphries, whom she married in 2011. >>> still ruled at the box office, stayed on top for a third straight week despite serious competition. "djang unchained" debuted in second place and "les mis" came in third. >>> long underwear may be a m
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